Quote:
Originally Posted by Exhibitman
Only two crimes have no statute of limitations: murder and tax fraud. Shows you where the real priorities are...
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Not necessarily true in regards to taxes. Civil tax fraud supposedly has no statute of limitations, but criminal tax fraud does still technically have a 6 year statute o f limitations
There is actually a 3 year statute of limitations for the IRS auditing and coming after your income taxes for any particular year that commences on the later of either the day your taxes were originally due (normally April 15th) or the day you actually filed them if filed after their original 4/15 due date. And that statute of limitations gets increased from 3 to 6 years for any return year where it turns out the taxpayer had underreported their taxable income by 25% or more.
Once your tax return has gone past the IRS' 3 or 6 year statute of limitations period for auditing it, you will likely never hear from them about that specific year again. That is unless you continue to commit whatever the civil tax fraud is in subsequent tax years and the IRS catches your civil fraud in one of those years still open for audit. Technically they can then decide to go back to the earlier tax years that are beyond the 3 - 6 statues for auditing a return and go after the civil tax fraud in those otherwise closed tax years as well.
Makes you kind of wonder why they even bother to have the 3 - 6 year statutes for auditing the returns to begin with. And I'm not even going to start on there being a separate 10 year statute of limitations to actually collect any taxes due the IRS from whatever civil fraud may have been commited. LOL